Given the unprecedented economic turmoil caused by COVID-19, there has been a substantial uptick in distressed asset transactions (i.e. the sale of something well below its traditional market value). We have been surprised by the number of these transactions that have lacked traditional due diligence and contingency planning. Seemingly, parties have been willing to ignore traditional risks and are increasingly motivated by fear or greed. However, distressed asset transactions typically have heightened risks associated with them, which justify additional planning from a legal perspective, not less.
Eric Lemmer, Esq., Attorney & Counselor at Law, Admitted in Virginia and the District of Columbia, Arlington Law Group
Given the unprecedented economic turmoil caused by COVID-19, there has been a substantial uptick in distressed asset transactions (i.e. the sale of something well below its traditional market value). We have been surprised by the number of these transactions that have lacked traditional due diligence and contingency planning. Seemingly, parties have been willing to ignore traditional risks and are increasingly motivated by fear or greed. However, distressed asset transactions typically have heightened risks associated with them, which justify additional planning from a legal perspective, not less.
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Sarah White, Chief Operating Officer, Cowboy Cafe, Lost Dog Cafe - South Arlington, McLean, Dunn Loring “What can I do?” It seems like I get asked this several times a day in the world of restaurants. “I want to support my local restaurant, but don’t know how I can help.” I get it. We all want to support our local restaurants, but some of us just aren’t ready to dine in, or cannot afford to eat out all the time. That is why I would like to take a minute to tell you how you can be supportive no matter your situation. Scott Reamy, Manager Electric Distribution Design, Dominion Energy COVID is changing how business is conducted across the Commonwealth. As the weather begins to cool, and temporary accommodations are made to adhere to local guidelines, businesses, such as bars and restaurants, may begin to install electric heaters, lighting, audio equipment, and other electronics that require additional electricity. It is important to understand how much available load you have in your panel box and whether any additional work needs to be done to accommodate new electric load. Jack Pittas, Co-Founder of PK Cyber Solutions Inc. While the increased use of teleworking has created stress and additional headaches for employees, it’s generated nothing but opportunities for cyber criminals, specifically the “Online Scammers.” That is why the use of “phishing” has absolutely skyrocketed within the last 6 months. Rhoda Wheeler, Owner, Agents in Style As many of us continue to work from home, and utilize virtual meeting spaces, consider polishing your look a bit for the change in season and to make the best impression possible. According to a recent Greater Washington Partnership survey of 430 businesses, more than 70% of DC area offices report they may not return to work full-time until next summer. This means even if you begin a gradual return your office building, Zoom and other virtual meetings will be a large part of most people’s work life, not to mention the networking, seminars, and other groups that rely on virtual meetings to maintain contact. Asya Haikin, MA, C-IAYT, Peaceful Mind Yoga Therapy Since school resumed earlier this month, many of us have been dealing with an added challenge of juggling work responsibilities while helping our kids navigate digital learning. As we are called to answer multiple demands, how do we stay present and respond in the best possible way, without becoming stressed out or reactive? Ann Rosser, Principal, Finding Resolution Consulting The first step in getting what you want is to communicate your thoughts so you are understood. How you communicate and interact is at the heart of your success. Morgan Cooper, Communications Coordinator, Arlington Chamber of Commerce
Have you ever found yourself in need of a service, like legal assistance or printing services, but you didn’t know where to find options that have the credibility of being recommended by a friend rather than whatever pops up on Google? The Chamber’s Business Directory can help you find those credible businesses! You can utilize the Business Directory for either your needs, or as an easy way to recommend local options to someone else. Either way, it is a great way to give back to the community by supporting your fellow members. Olivia McKay, Operations Manager, Arlington Chamber of Commerce
With COVID-19 changing the nature of meetings, we have all quickly been learning how to use Zoom. Whether to stay connected to friends & family, or to ensure all your business meetings and presentations go smoothly, it has become essential that everyone becomes fluent in virtual meetings. The Chamber hosts a multitude of Zoom events on a weekly basis; in order to be successful, we follow best practices that allow all of our meetings to flow smoothly. Janet Kopenhaver, President, Embracing Arlington Arts Cultural equity is consistently cited as a major problem in the arts and theater industry. The recent “Black Lives Matter” protests and calls for theaters to put their “statements of support” into action has focused even more light on this issue. A major impediment to achieving more diversity in the arts and culture industry is that while all agree that concrete changes must be made, there has been a lack of insight into how and what these changes should entail to garner results. Embracing Arlington Arts wants to fill that gap. |
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